joint tenancy

Definition of "joint tenancy"
  1. A form of property ownership where two or more individuals own equal shares; when one owner dies, their share is automatically passed to the surviving owners, bypassing probate
How to use "joint tenancy" in a sentence
  1. The couple purchased their home under joint tenancy, ensuring the survivor would become the sole owner.
  2. She and her business partner own their office building as joint tenants to avoid probate issues.
  3. Under their agreement of joint tenancy, he automatically became the full owner of the property after his brother's death.

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